(a) Council specifically authorizes the formation of an Audit Committee consisting of three members and confirmed by a majority vote of the members of Council.
(b) The term of the members of the Audit Committee shall be for a period of three years and until their successors are appointed.
(c) The Audit Committee shall organize at its first meeting and on each anniversary date thereof by electing one of its members as Chairperson who shall preside at all its meetings, and another as Vice-Chairperson. The Director of Finance or the Assistant Director of Finance shall serve as Secretary to keep the minutes, records and proceedings of the Audit Committee.
(d) The Audit Committee shall work with the city’s Director of Finance, internal and independent auditors in connection with the city’s budget, its audit report, management report, internal controls and other fiscal and management matters.
(e) There is hereby appropriated from the General Fund a sufficient sum of money to pay the costs of carrying out the directives of this chapter, including a payment of $100 to each Audit Committee member for each meeting attended.
(f) The Director of Finance is hereby authorized and directed to pay from the General Fund the sums necessary for expenses incurred in carrying out the business of the Audit Committee, including reimbursement for local and long distance mileage incurred for use of personal automobiles on Audit Committee business.
(Ord. 176-01, passed 8-21-2001)